Archer Daniel Midland plans to purchase 125,000 bushels of soybeans in July.In January, when the spot price of soybeans was $10.35 /bushel, ADM hedged the entire planned purchase with September futures contracts 5000bu/c at 1044.

ADM lifts the hedge in July. The spot price of Soybeans is now $9.33 /bushel and the basis on September futures is now ($0.03)

ADM's profit (loss) on its futures position is $___?___

ADM's revenue (expenditure) on the spot market is $___?___

ADM's net revenue (expenditure) is $___?___

ADM's effective price per bushel is $___?___